USDX (USD Index)

The bearish pressure on the U.S dollar index creates another lower low today. The index is moving lower and set to target 88.80 and 88.25 support levels. Traders might want to continue to avoid long positions in the U.S dollar for now until there is a major bullish reaction from the support levels.

EUR/USD

EUR/USD breakout above 1.2300 resistance level. The pair expected to continue its bullish movement and target 1.2500 resistance next. Traders will continue to hold long positions and add more positions when bearish corrections happen.

At the current time, it is better to wait and see as the U.S dollar index soon will reach the 2018 low.

today critical levels to watch:

Support: 1.2300, 1.2200, 1.2070, 1.2000

Resistance: 1.2500

GBP/USD

No bearish continuation after the formation of a bearish engulfing pattern. GBP/USD bounces from 1.3600 and is set to continue its upward movement. If the pair continues upward then 1.3835 and 1.4000 will become the next targets. It is better to wait for a bearish correction before entering long positions.

Today Critical level to watch:

Support: 1.3600, 1.3450

Resistance: 1.3835, 1.4000

USD/JPY

We have another lower low printed in USD/JPY. The pair currently trading near the bottom of the channel where it might bounce and target the top of the channel. Traders might want to stick with short positions only and enter near the top of the channel or nearest resistance level.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD is unstoppable as the pair reach 0.7800 today. The pair has strong bullish momentum and might continue moving upward. Similar to the other USD pair, it is better to wait for a correction before adding more long positions.

Today critical levels to watch:

Support: 0.7750, 0.7700, 0.7640

Resistance: 0.7800